Toronto, Ontario – Eyecarrot Innovations Corp (“Eyecarrot” or the “Company”)(TSX-V: EYC | OTCQB: EYCCF) is pleased to announce the closing of a previously announced non-brokered private placement for total proceeds of $4,700,000. The Company issued a total of 26,111,111 units at $0.18 per unit, each unit comprised of one common share of the Company (a “Share”) and and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase one Share (each, a “Warrant Share”) at an exercise price of $0.30 per Warrant Share at any time up to 24 months following the closing date of the Offering (the “Closing Date”).
Aggregate finder’s fees of $294,000 in cash and 70,000 finder’s warrants were paid to registrants. Each finder’s warrant has the same terms as the warrants forming part of the units.
All securities issued in connection with the Private Placement are subject to a four-month hold period expiring on March 8, 2019. Further restrictions may apply to certain subscribers under foreign securities laws.
There was no Insider participation in the Private Placement.
Eyecarrot’s Binovitm platform is an innovative healthcare technology solution that integrates software, hardware, data and expert knowledge. Binovi helps Optometrists treat vision issues with in-office therapy as well as doctor led home based activities to better serve and increase the patient’s experience and their therapy needs. The goal is to help transform vision performance for the 1 in 4 people worldwide that suffer from vision-related issues going beyond visual acuity. The company is transforming how vision healthcare services are integrated, while addressing key challenges in the health system.
Forward Looking Information
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations, and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains regulatory approval. Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Factors that could cause the forward-looking information in this news release to change or to be inaccurate include, but are not limited to, the risk that any of the assumptions referred to prove not to be valid or reliable, that occurrences such as those referred to above are realized and result in delays, or cessation in planned work, that the Company's financial condition and development plans change, and delays in regulatory approval, as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com . The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
source Eyecarrot Innovations Corp.